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In a press conference held in Hyderabad, Telangana, Smt. Mitali Madhusmita, IRS, Principal Chief Commissioner of Income Tax, AP & Telangana, shed light on the concerning issue of suspicious refunds claimed by certain taxpayers. The conference aimed to bring attention to the discrepancies found in the refund claims of a significant number of salaried taxpayers in Andhra Pradesh (AP) and Telangana (TS). The ease of claiming refunds without sufficient proof of deductions and exemptions has raised concerns.
Questionable Refund Claims
During the conference, Mitali Madhusmita revealed that many taxpayers have been claiming refunds ranging from 75% to 90% of the Tax Deducted at Source (TDS) deducted by their employers. It has been discovered that a considerable number of salaried taxpayers in AP and TS have claimed deductions and exemptions that are not legitimate. These false claims have served as the basis for their refund requests. Notably, the current filing process does not require taxpayers to provide supporting evidence for the deductions or exemptions claimed.
Simplified Filing Process and Initiatives
The Income Tax Department has taken various initiatives to facilitate compliance for taxpayers and encourage voluntary adherence to tax regulations. One such initiative is the simplification of the Income Tax Return (ITR) form and the seamless process of e-filing. These measures were put in place to streamline the filing process and make it more accessible for taxpayers. However, they have inadvertently created opportunities for individuals to claim refunds without proper verification of their deductions and exemptions.
Ensuring Accuracy and Compliance
Addressing the concerns over suspicious refund claims, the Principal Chief Commissioner emphasized the need to ensure accuracy and compliance in the tax filing process. While the current system allows for prompt processing and automatic crediting of refunds to taxpayers’ bank accounts, it is crucial to implement measures that verify the legitimacy of deductions and exemptions claimed. The Income Tax Department is actively working towards introducing stricter compliance protocols to maintain the integrity of the tax system and prevent fraudulent practices.
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